More than 165 million Americans shopped either in-store or online from Thanksgiving through Cyber Monday, according to the National Retail Federation and Prosper Insights & Analytics. More than 89 million people shopped both online and in stores, up nearly 40 percent from 2017. Spending estimates from various groups have shown that Thanksgiving weekend was record-breaking for the retail industry, which was consistent with NRF’s forecast of up to a 4.8 percent increase in holiday spending over the months of November and December.
Purchases showed new trends coming from younger consumers, with Gen Zers and younger millennials aged 18-24 spending an average of $149 on holiday purchases for themselves. The most popular day to shop online was Cyber Monday, cited by 67.4 million shoppers. Shopping in-store was most popular on Black Friday with more than 67 million shoppers, followed by Small Business Saturday with 47.4 million. Top shopping destinations during the weekend included department stores (42 percent), online retailers (38 percent), grocery stores (30 percent), and discount stores (29 percent).